With the participation of the First Deputy Prime Minister of the Republic of Kazakhstan Roman Sklyar, a memorandum was signed on the establishment of aluminum wheel manufacturing in Kazakhstan.

First Deputy Prime Minister Roman Sklyar held a meeting with Mr. Mustapha Akkari, Chief Executive Officer of the American company Open Element, and Mr. Hyun Chang Seung, Chairman of the Korean company Hands Corporation. During the meeting, the parties discussed issues of investment cooperation and the implementation of a project to establish a joint venture for the production of aluminum wheels in Kazakhstan.

The project envisages the construction of a modern high-technology manufacturing plant with the participation of the Kazakhstan company Astana Motors, as well as international partners Open Element (United States) and Hands Corporation (Republic of Korea).

The project will ensure deeper localization in the automotive industry, reduce import dependence, promote the development of related industries, and strengthen Kazakhstan’s industrial potential.

The new enterprise will become the first modern aluminum wheel manufacturing facility in Kazakhstan with a full technological cycle, including the transfer of advanced engineering and production solutions.

Foreign partners emphasized that their decision to select Kazakhstan as the location for the project was driven by the country’s sustained growth in automotive manufacturing.

Following the meeting, a trilateral memorandum on the establishment of the joint venture was signed.

The memorandum signing ceremony was attended by Nurlan Smagulov, Founder of Astana Motors; Beknur Nesipbayev, Chief Executive Officer of Astana Motors; Mr. Mustapha Akkari, Founder and CEO of Open Element; Mr. Hyun Chang Seung, Chairman of Hands Corporation; as well as Anar Makasheva, President of the Kazakhstan Automobile Union.

The implementation of this project forms part of Kazakhstan’s long-term strategy to transition toward the role of a major manufacturer and supplier of automotive components, not only for the domestic market but also for regional markets.

#Roman Sklyar #International Cooperation #Investments

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